Retirement tax questions

If your total tax payments are greater then your total tax liability you will receive a tax refund for the overpayment.

If your total tax payments are less than your total tax liability you will have taxes owed.

 

On your Form 1040 tax refunds will be on Line 34.  Taxes owed will be on Line 37.  How each is calculated will be on the description for each Line.

 

You can view your Form 1040 plus Schedules 1, 2 and 3 at any time using the online editions. Click on Tax Tools on the left side of the online program screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.